NewsRoom Articles - Page 30 of 190

TuesdayNov 19, 2024 8:00 am

US Hacker Gets 5-Year Jail Sentence for Billions’ Worth of Bitcoin Theft

A hacker tied to one of the biggest crypto thefts in history has been given a five-year sentence in a United States jail for money laundering. Ilya Lichtenstein admitted his guilt last year in a case involving the 2016 hacking of the Bitfinex exchange which resulted in the theft of almost 120,000 bitcoins. Lichtenstein conducted the laundering operation with Heather Morgan, his wife, better known by her rap name “Razzlekhan.” Back then, the stolen Bitcoin was worth approximately $70 million. However, by the time authorities apprehended the couple, the value of the cryptocurrency had skyrocketed to over $4.5 billion. Today,…

MondayNov 18, 2024 8:00 am

The Safe-Haven Asset Crypto Investors Are Missing

In recent years, cryptocurrency has captured the imagination of investors, who have embraced it as a revolutionary asset class offering high-growth potential. With Bitcoin and other digital currencies reaching new heights, many investors have turned to the crypto market as their hedge against inflation, government intervention and traditional assets. But there’s a time-tested asset that deserves more attention and has also been reaching all-time highs this year: gold. Much like Bitcoin, gold’s scarcity is one of the key factors driving its value. The finite nature of both assets appeals to investors who are drawn to the idea of owning something…

FridayNov 15, 2024 8:00 am

Coinbase Launches Crypto Index Similar to the S&P 500

Coinbase Global Inc. (NASDAQ: COIN), the largest cryptocurrency exchange in the U.S., has introduced a new market index called the Coinbase 50 Index (Coin50). Designed to function somewhat like the S&P 500, the index aims to give investors a broad, easy-to-understand overview of overall market performance in the crypto sector. As digital currency continues to gain traction, the need for reliable metrics and benchmarks is growing. Greg Tusar, Coinbase’s Head of Institutional Products, expressed confidence that the index could become the go-to measure of the crypto market’s overall state, much like the S&P 500 serves the traditional equity market. In…

ThursdayNov 14, 2024 8:00 am

Bitcoin Edges Past $89,000 as “the Trump Effect” Carries On

Bitcoin reached new peaks on Monday, November 11, as the crypto surge continued in the wake of Donald Trump’s recent election victory. Coin Metrics data showed Bitcoin rising over 12% to about $89,174 following an earlier climb to a fresh high of $89,623. Meanwhile, Ether also saw substantial gains, increasing by over 7% to $3,371.79. Ether’s jump follows a strong 30% increase in the last week, bringing it well above the $3,000 level over the weekend. Cardano’s DeFi token climbed 4.7% while Dogecoin surged nearly 24%. Crypto-related stocks reflected this momentum as well; Coinbase ended Monday’s session with a 19.8%…

TuesdayNov 12, 2024 8:00 am

Trump’s Win Triggers Crypto Rally, BTC Hits New Record

Bitcoin (BTC) surged to a record high on Wednesday, November 6, with the broader crypto market and crypto-related stocks enjoying a strong rally as investor confidence grew after Donald Trump’s presidential election victory. BTC jumped by almost eight percent in early trading, soaring past $75,000 and setting a new all-time high. This surge eclipsed its prior record from March, with other cryptos following suit. Ether, the second largest crypto after bitcoin, saw a similar 8% increase, while dogecoin spiked by up to 18%, bolstered by support from Elon Musk, who has been vocal about his interest in the asset and…

FridayNov 08, 2024 8:00 am

Crypto Donations Towards Elections Exceed Those of Pharma and Oil Giants

The 2024 United States elections have significantly impacted the cryptocurrency landscape, elevating its importance within the global financial sector. Crypto-related donations have soared past $238 million for the first time, surpassing contributions from traditional sectors like pharmaceuticals and oil. This unprecedented level of support is expected to push policymakers in Washington toward more crypto-friendly regulations. Some of the most prominent contributors from the sector include major players such as Ripple, Coinbase, and Andreessen Horowitz. Collectively, these firms have contributed over $160 million to pro-crypto political action committees (PACs), backing candidates with crypto-friendly agendas such as John Deaton, who is running…

ThursdayNov 07, 2024 9:00 am

Crypto ETFs Register Significant Inflows as Traders Prep for Volatility

A growing number of investors are putting money into Bitcoin-tracking funds in anticipation of former President Donald Trump’s possible comeback to the presidency. They are optimistic about the cryptocurrency’s future, despite expecting some turbulence in Bitcoin prices during election week. According to data analysis and news source The Block, ETFs tracking spot Bitcoin prices experienced a significant inflow of $917.2 million on October 30, the biggest one-day influx since March. BlackRock’s iShares BTC Trust ETF, known as the largest asset-managed Bitcoin spot fund, gained net flows amounting to $872 million—its biggest one-day influx since its inception in January 2024. Bitcoin…

TuesdayNov 05, 2024 8:00 am

UAE Crypto Exchange Says It Recovered $13.7m in Just 16 Minutes After a Security Breach

M2 Exchange, a crypto exchange based in the United Arab Emirates, recently underwent a security breach involving $13.7 million. The exchange reported that it had acted promptly to resolve the issue, ensuring customer funds were restored and normal operations resumed with heightened security measures implemented. Cybersecurity company Cyvers discovered odd transactions connected to M2 Exchange that happened on popular blockchain networks like Bitcoin, Ethereum, and Solana. The firm described the hack as an access control violation, detailing that the compromised address received1,378 ETH, 9.7 million Shiba Inu tokens, and 3.7 million USDT. The assets were later changed to ether. M2…

FridayNov 01, 2024 2:57 pm

Blockchain Africa Conference 2024: Set to Showcase Latest Developments in African Blockchain and Crypto Innovation

South Africa – Blockchain Africa Conference 2024 is set to unite blockchain developers, influencers, investors, entrepreneurs, and business leaders from around the world at the CSIR International Convention Centre in Pretoria (Tshwane) on 20 November 2024. This premier event, marking the 10th edition and organized by Bitcoin Events, will foster collaboration and provide participants with insights into Africa's dynamic and rapidly evolving blockchain and cryptocurrency ecosystem. The conference offers a platform for networking, knowledge sharing, and collaboration, bringing together local and international experts to discuss the most significant trends in cryptocurrencies and blockchain technology. Key Highlights of Blockchain Africa Conference…

FridayNov 01, 2024 9:00 am

Crypto Market Shaken by Media Reports of Tether Being Investigated

The U.S. federal government is reportedly investigating Tether, a major stablecoin provider, according to an October 25 report by The Wall Street Journal (WSJ), which cites sources close to the issue. The investigation, which is being led by the U.S. Department of Justice (DOJ), focuses on alleged criminal use of Tether’s stablecoin, USDT, by third parties, potentially for illegal activities such as money laundering. The investigation has reportedly been ongoing for a few years. Meanwhile, the U.S. Department of Treasury is evaluating potential sanctions against Tether, as the stablecoin is widely used by sanctioned individuals and entities, such as the…